US unemployment rate falls to 5.0% in October

US unemployment fell to 5.0 percent in October, the lowest ratel since early 2008, as the economy pumped out a solid 271,000 net new jobs, the Labor Department reported Friday.

Average hourly earnings of US workers also surged in the month, up by 2.5 percent from a year earlier, after much slower growth over much of this year.

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